East Horizon expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,000 parts, require 10 setups, and consume 1,500 hours of finishing time. (Click the icon for completed job data.) Read the requirements East Horizon expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,000 parts, require 10 setups, and consume 1,500 hours of finishing time. (Click the icon for completed job data.) Read the requirements East Horizon uses ABC to account for its chrome wheel manufacturing process. Company managers have identified four manufacturing activities that incur manufacturing overhead costs: materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs for the upcoming year and their allocation bases are as follows: 5 Click the icon to view the data.) East Horizon expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,000 parts, require 10 setups, and consume 1,500 hours of finishing time. (Click the icon for completed job data.) Read the requirements .. Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. Activity cost allocation rate Total activity overhead (est.) 9,000 Total activity allocation base 3,000 Mat. handling $ = $ 3 per part Mach setup $ 3,500 10 = $ 350 per setup Insertion $ 45,000 3,000 = $ 15 per part Finishing $ 78,000 1,500 = $ 52 per hour - X Requirement 2. Compute the manufacturing overhead cost that should be assigned to Job 420. More info MOH Cost Activity Materials handling Machine setup Insertion of parts Job 420 used 200 parts, required 3 setups, and consumed 150 finishing hours. Job 510 used 425 parts, required 6 setups, and consumed 320 finishing hours. Finishing Total Print Done Requirements 1. Compute the cost allocation rate for each activity. 2. Compute the manufacturing overhead cost that should be assigned to Job 420. 3. Compute the manufacturing overhead cost that should be assigned to Job 510